Next time you consider embarking on a strategic initiative, be aware of the following five factors that are common elements of failed initiatives (from IndustryWeek's article: "
Top Five Reasons Why Strategic Initiatives Fail")
- Strategy is Not Clearly Communicated to the Stakeholders
- Lack of Support by Key Leaders in the Organization
- Decision-Makers Do Not Understand the Relevance or are Unable to Measure Progress
- Lack of Impact on Employee Compensation
- Technology Needed for Implementation is Not Available
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